Can you get a mortgage on solar panels?

Whether or not you'll have problems securing a mortgage on a property with solar panels will likely come down to whether the solar panels are owned by the previous homeowner or leased. Before completing the property purchase, you must determine whether the solar panels will be part of the sale.

What is a solar loan?

Solar loans provide a financing solution that enables homeowners to buy and install solar panel systems without having to pay the entire cost upfront. These loans are specifically designed to fund residential solar energy systems, enabling homeowners to retain ownership of the panels while making monthly payments over a period of time.

Are solar panel loans a good idea?

Solar panel loans represent an alternative route to green energy for households that can’t afford to part with thousands of pounds at a time. Many solar panel loans also include a solar battery, which makes them more attractive, as they can help homes to save even more on their electricity bills. How much does a solar panel loan cost?

Will solar panels affect my mortgage application?

There are several reasons why solar panels might affect your mortgage application, and they all stem from the installation. Rent-a-roof schemes saw companies offer free solar panels in exchange for being able to sell the excess electricity produced.

Can I remortgage my home to finance solar panels?

Yes, you can remortgage your home to finance the installation of solar panels. Remortgaging involves replacing your existing mortgage with a new one from a new lender, often with different terms and conditions.

Do you qualify for a solar panel loan?

Every solar panel loan provider will have a set of eligibility criteria, as they need to control their risk and protect the integrity of the financial system. To qualify for a solar panel loan, you’ll usually have to be a UK resident and own the property that you’re planning to install the system on.